true
Kirklands Law Limited
SC294759
2014-10-31
51382
46077
51582
46277
200
200
51582
46277
51582
46277
50101
45525
535544
604242
585645
649767
33753
31414
551892
618353
1481
752
1481
752
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents the invoiced value of services provided during the period, stated net of Value Added Tax.
Service revenues are recognised as those services are provided to customers.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Goodwill-20% straight line
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as either financial assets, financial liabilities or equity instruments.
An equity instrument is any contract that evidences a residual interest in the assets of the
company after deducting all of its liabilities.
Plant & Machinery
Straight line
0.2500
Fixtures & Fittings
Straight line
0.2500
106000
106000
106000
106000
2467
1120
1347
986
368
618
108467
107120
1347
106986
106368
618
Ordinary 'A'
100
1
100
100
Ordinary 'B'
100
1
100
100
Ordinary 'A'
1
100
100
100
Ordinary 'B'
1
100
100
100
On 3rd September 2013, the 100 ordinary shares were converted into 60 'A'
ordinary shares and 40 'B' ordinary shares. On 24th September a further 40 'A'
ordinary shares and 60 'B' ordinary shares were issued to equalise the shares
issued.
The conversion and equalisation was carried out to reflect the original
agreement between the shareholders drawn up before the introduction of the
Falkirk practice into Kirklands Law Limited.
Mr Gibson's pension fund charged the company for the rent of the Perth premises. Rent was charged at £12,000 for the year (2013 - £12,000). The Falkirk premises are rented from A & D Properties, a business in which Mr Orme is a partner. Rent was charged at £7,800 for the year (2013 - £6,277).
The company owed Mr Gibson, director, £17,288 as at 31 October 2014 (2013 - £14). This amount is interest free and has no fixed term for repayment. The company owed Mr Orme, director, £1,462 (2013 - £8,073). This amount is also interest free and has no fixed term for repayment.
The company charged an associated company, Kirklands Business Solutions Limited, £10,000 (2013 - £8,000) for its share of common overheads and administrative support.
Kirklands Business Solutions Limited, an associated company, charged the Falkirk office £7,867 (2013 - £7,588) for IT and accounting support.
The company was owed £500 by Kirklands Business Solutions Limited, an associated company, at 31 October 2014 (2013 - £500).
2015-07-17
G M Gibson
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Kirklands Law Limited
2013-11-01
2014-10-31
Kirklands Law Limited
2012-11-01
2013-10-31
Kirklands Law Limited
2012-10-31
Kirklands Law Limited
2013-10-31
Kirklands Law Limited
2013-10-31
Kirklands Law Limited
2014-10-31
2015-07-21